Anyone living in the UK and EU will be able to open the free account instantly, unlocking bank details for the UK, US, Australia and Europe. The account enables customers to receive and send money from over 30 countries.
For consumers who travel frequently or work abroad, the account enables them to manage their money between countries more easily than ever before. The card, facilitated by Mastercard, boasts low conversion fees and zero transaction fees.
Some of the other benefits include:
Free to pay with currencies in your account
Free ATM withdrawals up to GBP 200 (USD 280) a month
Only pay a small conversion fee when you convert your money — typically between 0.35% and 1%
Automatically convert your money at the real exchange rate
Hold over 40 currencies in your TransferWise borderless account and switch between them in seconds.
The company is currently inviting groups of customers with borderless accounts in the UK to order a TransferWise debit Mastercard. They will be launching the new account to everyone in the UK soon after, with other European countries on the way.
TransferWise is independently regulated by the Financial Conduct Authority (FCA) in the UK.
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